DEEP Token Hits Overbought Zone as DeepBook DEX Volume Explodes—Traders Rush In Before Gravity Returns

DeepBook’s decentralized exchange sees unprecedented trading volume as DEEP price rockets into overbought territory. Retail FOMO meets institutional skepticism—because nothing says ’healthy market’ like a 200% pump on thin order books.

Technical indicators flash red while traders chase the next meme-less moonshot. Will this be the rare altcoin that defies the inevitable pullback? Spoiler: History says no.

DeepBook price technical analysis

The daily chart shows that the DEEP token bottomed at $0.04593 on April 7 before rebounding to a high of $0.2524. This recovery followed the formation of a falling wedge pattern—a popular bullish reversal signal.

DeepBook price broke above the 38.2% Fibonacci retracement level and has moved above the 50-day moving average, indicating that bulls remain in control. However, there are signs of caution, as both the Relative Strength Index (RSI) and the Stochastic Oscillator have entered overbought territory.

While the uptrend may continue, there is a risk of a short-term pullback, potentially toward the psychological support level of $0.1360, which aligns with the 61.8% retracement level. A breakout above Monday’s high of $0.2525 would suggest further gains, potentially targeting the all-time high of $0.3465.